EUR/USD Going To Support While Trading Below Resistance
Anton Kolhanov | Jan 17, 2020 11:16AM ET
EUR/USD 6E futures market
Friday forecast, January 17
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1.1190, which will be followed by reaching support level 1.1146.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1190, which will be followed by moving up to resistance level 1.1212.
EUR/USD spot market
Friday forecast, January 17
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1.1150, which will be followed by reaching support level 1.1105.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1150, which will be followed by moving up to resistance level 1.1170.
Weekly forecast, January 13 - 17
Most important news of this week
Monday: -
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)
Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1.1080, which will be followed by reaching resistance level 1.1170.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1.1080, which will be followed by moving down to support level 1.1017 - 1.0988.
Get The News You Want
Monthly forecast, January - February
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1.1200, which will be followed by reaching support level 1.1075 and 1.1020.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1200, which will be followed by moving up to resistance level 1.1270 and 1.1370.
DISCLAIMER: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.